Should I Franchise?

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ImageFranchising is not a panacea and it is not right for every business. Before a business starts spending large sums of time and money on franchising, we suggest an initial meeting. The purpose is to discuss the proposed franchise and get a preliminary feeling as to whether it is likely to be successful. This includes comparing the business to known criteria for success, understanding the motivation, how the proposal fits in to the overall long-term strategy of the business and meeting the people likely to be involved.

If there are areas of concern or the proposal clearly does not look suitable for franchising we will say so – it is not our role to "Sell" franchising, but to give honest, straightforward advice.

If however, the business looks as if it may benefit from a franchise strategy for growth we will go on to discuss what is involved in developing a professional, ethical franchise and the likely costs. The next stage would be to put together an initial but essential Franchise Development Plan to test the financial viability for both Franchisee and Franchisor and to set out the game plan if the decision to go ahead with franchising as a strategy for growth is taken. Areas covered in this evaluation stage should include:

  • Franchise concept design
  • Positioning your Franchise in the market
  • Competitor analysis (Franchisors competing for the same franchisees)
  • Franchise recruitment profile
  • Franchisee business plans
  • Project costs and budgets
  • Franchisor infrastructure planning
  • Resource requirements for implementation
  • System development structure and deadlines
  • Code of Ethics

Contact The Franchise Development Centre by filling out the contact form below.

 
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